FX.co ★ Trading plan for EUR/USD on September 7

Infection rate continues to accelerate in India, now recording an estimate of 91 thousand new infections a day. It poses dangerous threat not only to the people, but to the economy as well.

Meanwhile, the United States and Brazil, on the contrary, sees a clear improvement in the situation, having a decrease in incidence to 31 thousand and 15 thousand, respectively. Although these levels are still considered high, the trend is obviously downward now in both countries.

S&P 500: A correction is beginning to form. Open sell transactions when approaching the highs. There is no reason to expect strong growth before the US elections.

EUR / USD: Set long positions from 1.1870, or short positions from 1.1760.

The main event for the euro is on Thursday, September 10, when the ECB meets to discuss monetary policy. There is no reason to expect a sharp increase in EUR / USD, but the statements of the ECB could still contribute to strong movements in the market.